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Private employer premium rate reduction
At the recent January 2024 Board of Directors meeting, the Ohio Bureau of Workers’ Compensation (BWC) Board of Directors received a proposal for an overall statewide rate reduction of 7% for Ohio private employers. If approved during the February meeting, this reduction will become effective July 1, 2024.
The reduction is expected to decrease paid premiums by nearly $67 million in the upcoming fiscal year and follows a 3.9% reduction for public employers (counties, cities, schools, and others) that went into effect January 1, 2024...
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